Perth Airport self-storage facility offered for sale

The leasehold sale of one of WA’s largest self-storage facilities, a 914-unit complex in the Commonwealth Government-owned Perth Airport precinct, has come to market through Colliers International.

The Bungana Avenue storage facility will be sold by Colliers International’s Martin Vogt and Greg O’Meara who said the lease on the 10,460sqm site started in 2011 and with options, runs for a total of 85 years.

“This sale is an opportunity to purchase a significant self-storage business that can offer 24-7 access to customers and also has further development potential,” Mr Vogt said.

“As self-storage complexes in the airport precinct rarely come to market, we are expecting local, national and offshore interest.

The property has 6,330sqm of storage space including the main office, CCTV monitoring, swipe card access, and operates with an occupancy close to 70 per cent.

“Bungana Avenue is one of the main access roads to Perth Airport and it is a convenient storage location for businesses, fly-in fly-out workers and residential customers in nearby homes and apartment complexes,” Mr Vogt said.

Demand for storage at the property is also expected to increase in line with new developments at the airport precinct.

“Perth Airport will be connected to the city’s train network in 2020 when construction finishes on the Forrestfield-Airport Link and new activation to the precinct includes the 113 retailers in the recently opened Direct Fashion Outlet,” Mr O’Meara said.